Arabica coffee futures closed higher this Wednesday in a session of high volatility. The most active contract for May delivery, settled 195 points higher at 134.85 cents a pound after being up more than 500 points for the most part of the session. Volume was according to average reaching 28,805 lots. “C” futures traded in a wide range of 640 points, reaching a high at 139.80 and a low at 133.05. A stronger real and middle east concerns about Iran nuclear deal pushed commodity prices up. At the end of the session, spec players liquidated positions to take profit. In other news, the latest estimate from Brazil-based trading house Comexim, Brazil’s 2015-2016 coffee crop will total 48.6 million bags, down from the 49.35 million bags from the previous seasonLondon Market - More than 80% of today’s traded volume was spread related in London, the K/N trading back up to -27 as larger players looked to take in structure at -30 and below, in order to play the cash and carry game. Despite the market rallying above the 1750 level, origin remained absent from outright activity which was dominated by momentum specs and arb traders, providing support to the market at the close of the session. The situation in Vietnam is starting to generate more and more concern with traders searching to cover shorts and stocks beginning to fall amid the bearish configuration seen as of late in London. Open interest following yesterday’s session was 133,834 lots , down 1,382 lots for the day. N15 Call options in London saw an uptick in activity today with 3,804 lots trading above the 1800 strike as traders put on bullish bets following today’s rally and another trade house’s Brazil crop estimate, estimating this year’s Brazil crop could be reduced by 6.18% from 2014’s production of 45.08 million bags.